Dhaka stocks fall for half-yearly closing
Wednesday, 30 June 2010
FE Report
Dhaka stocks fell for the second straight session Tuesday, as the investors booked gains ahead of half-yearly closing.
The market saw volatility with rally in the morning, and then, it started to slide steadily at close, as the investors took profit mainly on banking stocks that declined more than two per cent.
The benchmark DSE General Index (DGEN) closed at 6172.54, shedding 0.46 per cent or 28.94 points. The broader All Shares Price Index (DSI) lost 0.53 per cent or 27.54 points to 5129.83. The DSE 20 index comprising blue chip shares was down by 0.81 per cent or 30.02 points to 3641.50.
Share prices of the banking issues, the market's bellwether, dropped 2.11 per cent, halting its rally over the weeks. United Commercial Bank Limited (UCBL) lost 5.48 per cent - the biggest fall among the banking issues.
Ten more banks lost more than two per cent each.
"The market is going through profit taking ahead of half yearly closing. Besides, market needs to take a breath now, after recent rise," said a stockbroker.
Investors' participation increased, as turnover stood at Tk 16.76 billion, up by seven per cent over the previous session. Out of the 249 issues traded on the day, 113 closed positive, 132 negative and four were unchanged.
Leasing or non-banking financial institution (NBFI) sector rose 0.38 per cent, notching up its winning run for the second straight session. Among the leasing issues, International Leasing and Financial Services Limited (ILFSL) gained highest 5.82 per cent.
Grameenphone, the largest capped company in the bourse and the country's top mobile phone firm, edged 0.53 per cent lower, its seventh consecutive session of losses.
Pharmaceuticals sector was down by 0.76 per cent, rebounding previous day's losses, with Square Pharmaceuticals, the country's top drug maker, slipping 1.64 per cent.
Fuel and power sector gained 1.10 per cent, banking on DESCO and Power Grid that rose 3.80 per cent and 3.68 per cent respectively.
Dhaka stocks fell for the second straight session Tuesday, as the investors booked gains ahead of half-yearly closing.
The market saw volatility with rally in the morning, and then, it started to slide steadily at close, as the investors took profit mainly on banking stocks that declined more than two per cent.
The benchmark DSE General Index (DGEN) closed at 6172.54, shedding 0.46 per cent or 28.94 points. The broader All Shares Price Index (DSI) lost 0.53 per cent or 27.54 points to 5129.83. The DSE 20 index comprising blue chip shares was down by 0.81 per cent or 30.02 points to 3641.50.
Share prices of the banking issues, the market's bellwether, dropped 2.11 per cent, halting its rally over the weeks. United Commercial Bank Limited (UCBL) lost 5.48 per cent - the biggest fall among the banking issues.
Ten more banks lost more than two per cent each.
"The market is going through profit taking ahead of half yearly closing. Besides, market needs to take a breath now, after recent rise," said a stockbroker.
Investors' participation increased, as turnover stood at Tk 16.76 billion, up by seven per cent over the previous session. Out of the 249 issues traded on the day, 113 closed positive, 132 negative and four were unchanged.
Leasing or non-banking financial institution (NBFI) sector rose 0.38 per cent, notching up its winning run for the second straight session. Among the leasing issues, International Leasing and Financial Services Limited (ILFSL) gained highest 5.82 per cent.
Grameenphone, the largest capped company in the bourse and the country's top mobile phone firm, edged 0.53 per cent lower, its seventh consecutive session of losses.
Pharmaceuticals sector was down by 0.76 per cent, rebounding previous day's losses, with Square Pharmaceuticals, the country's top drug maker, slipping 1.64 per cent.
Fuel and power sector gained 1.10 per cent, banking on DESCO and Power Grid that rose 3.80 per cent and 3.68 per cent respectively.